By Seun Ibiyemi
Investors on the Nigerian Exchange traded a total of 3.794 billion shares worth ₦119.394 billion in 89,636 transactions this week, marking a significant uptick in market activity compared to the previous week.
This comes as the Nigerian equities market rebounded strongly from last week’s downturn, racking up a remarkable ₦1.711 trillion in gains over five consecutive trading days.
In contrast, the prior week saw 3.932 billion shares valued at ₦74.813 billion exchanged in 105,220 deals. The substantial jump in trade value represents a 59.6 percent increase in transaction worth on the floor of the Exchange.
The Financial Services sector led the charge, accounting for 2.744 billion shares valued at ₦79.805 billion across 36,458 deals. This sector contributed 72.34 percent of the total equity turnover volume and 66.84 percent of the value.
Trailing behind was the Consumer Goods sector, which saw 201.889 million shares worth ₦7.623 billion traded in 11,922 transactions. The Services sector followed in third place with 173.748 million shares exchanged at a value of ₦1.719 billion in 6,385 deals.
Three stocks, United Bank for Africa Plc, Fidelity Bank Plc, and Access Holdings Plc, were the most actively traded during the week. Together, they accounted for 1.942 billion shares valued at ₦61.542 billion in 12,443 transactions. This represented 51.19 percent of the total turnover volume and 51.54 percent of the value.
The NGX All-Share Index rose by 2.49 percent to close at 111,742.01 points, while the market capitalisation settled at ₦70.463 trillion, up from ₦68.752 trillion recorded the previous week.
Apart from the NGX CG, NGX AFR Bank Value, NGX MERI Value, NGX Oil and Gas, and NGX Growth indices, which dipped by 0.01 percent, 0.01 percent, 0.64 percent, 2.05 percent, and 0.38 percent respectively, all other indices ended the week in positive territory. The NGX ASeM Index remained unchanged.
A total of 56 equities appreciated in price, up from 52 recorded the previous week. Meanwhile, 44 equities declined, higher than the 41 recorded the previous week. The number of equities that remained unchanged dropped to 48 from 55.
Top gainers for the week included University Press, Red Star Express, Omatek Ventures, Associated Bus Company, and Northern Nigeria Flour Mills, with share prices rising by 35.32 percent, 23.99 percent, 20 percent, 18.47 percent, and 17.02 percent respectively. These companies gained ₦1.54, ₦1.61, 13 kobo, 46 kobo, and ₦20.20 in value.
On the flip side, the five worst-performing stocks were Abbey Mortgage Bank, Legend Internet, Nigerian Enamelware, Industrial Medical Gases, and Multiverse Mining and Exploration. They recorded losses of ₦2.05, ₦1.44, ₦4.75, ₦6.20, and ₦1.40 respectively.
The market logged gains in three of the five trading sessions this week. On Monday, 26 May 2025, the equities market opened bullish, with investors gaining ₦539.98 billion. The momentum carried through Tuesday, 27 May, with a gain of ₦1.09 trillion, followed by another rise of ₦186.90 billion on Wednesday, 28 May.
However, the rally slowed on Thursday, 29 May, as investors saw a drop of ₦53.30 billion. The week closed on Friday, 30 May, with a further loss of ₦47.97 billion.
In another development, the NGX confirmed the official change of name for Standard Alliance Insurance Plc to Fortis Global Insurance Plc. This follows the approval granted by shareholders at the company’s Extraordinary General Meeting held on 4 April. Consequently, the firm’s trading symbol has been updated from STDINSURE to FTGINSURE.